To “battle” #Covid-19, the resources of national #budgets have had to be realigned to meet the sudden and unexpected demand for unplanned #resources. This means that budgets will have to run huge #deficits so much so that #donations and #volunteers have been requested.
The USA is making trillions available in one form of response package or the other. Singapore has three budget statements in two months (Singapore Times) running into billions of Singaporean Dollars.
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in past times, once governments had started to expend such huge sums of money, the next natural response is to raise fresh funds. This will be done by taxation as a first step as has been done through the centuries to raise funds and rebuild.
We have Value added taxes, Income tax, Carbon tax, Mining tax and environmental taxes so why not a Covid-19 Tax? It seems to be inevitable. The big question really is when and how will it be applied and implemented?
The conversation continues https://issuu.com/rdjbriefing